Great buy and hold opportunities in South Jersey

Starting Out
4yFollow

Great buy and hold opportunities in South Jersey

Jared Joseph
Realtor · NJ · Member since 2021 · 19 posts · 8 votes

Hey BP Family!

I haven't posted in awhile since I was going through a long process of attempting to purchase property in North Jersey (Newark). Due to the higher costs and my current financial position attempting to acquire an FHA for my first property/investment, I wasn't able to procure something in that area. Since I'm dying to get started ASAP especially after a few months of trying, I've shifted my position to South Jersey where the market is a bit more affordable.

To get a better idea of my current goals, here they are listed below:

-Aquire 50 units in 5 years. (Most likely a combination of in state and out of state properties down the line.)

-House hack the first property and purchase using FHA 30 year mortgage.

-Cash Flow on the first few would be nice for security but since I'm buying and holding I'm going more for the appreciation game. 

With that said, can anyone recommend any South Jersey markets worth checking out so I can focus my research a bit before deciding where to invest? 

Thanks!

0Reply
36 views

7 Replies

Jump to latestLatest
  • John Donovan
    Philadelphia, PA · Member since 2018 · 7 posts · 3 votes
    4y

    @Jared Joseph

    Hey Jared - I’m a newbie; no properties under my belt, but I’m from the south jersey area. Not sure what your price range is but just from me living in the area, I would look in the suburbs within 20 miles or so of Philadelphia. Mount Laurel, Moorestown, parts of Cherry Hill and Collingswood might be too expensive, but not sure if house hacking is the strategy (check out 148 E 2nd St in Moorestown). Marlton, Voorhees, Lindenwold, and Washington Township might be decent places to look. Prices tend to go down out there with them being further from the city. Camden historically has been pretty rough, but they’ve made some investments on the waterfront that might be changing things.

    Again, just my thoughts given it was where I grew up. Figured I’d throw them out there since no one had responded. I’m searching for my first deal as well and SJ might be a potential fit. If you’re ever looking for a potential partner, I’d be happy to have a conversation.

    Best of luck!

    -John

    0Reply
  • Jared Joseph
    OP
    Realtor · NJ · Member since 2021 · 19 posts · 8 votes
    4y
    Quote from @John Donovan:

    @Jared Joseph

    Hey Jared - I’m a newbie; no properties under my belt, but I’m from the south jersey area. Not sure what your price range is but just from me living in the area, I would look in the suburbs within 20 miles or so of Philadelphia. Mount Laurel, Moorestown, parts of Cherry Hill and Collingswood might be too expensive, but not sure if house hacking is the strategy (check out 148 E 2nd St in Moorestown). Marlton, Voorhees, Lindenwold, and Washington Township might be decent places to look. Prices tend to go down out there with them being further from the city. Camden historically has been pretty rough, but they’ve made some investments on the waterfront that might be changing things.

    Again, just my thoughts given it was where I grew up. Figured I’d throw them out there since no one had responded. I’m searching for my first deal as well and SJ might be a potential fit. If you’re ever looking for a potential partner, I’d be happy to have a conversation.

    Best of luck!

    -John


     Hey John! I know my poor post was sitting there waiting for attention haha, so thank you for responding!

    I used to live in South Jersey myself in Mount Holly and Burlington but I haven't really studied the area much in terms of investments so I wanted to get others opinions on areas they were considering. You're absolutely right though with anything around 20 miles or less of Philadelphia. I know Cherry Hill is definitely up there price-wise now but South Jersey still seems to be significantly cheaper and more affordable than parts of North Jersey close to the city. I had to quickly realize that South Jersey may be more in my lane haha.

    Absolutely; I'll shoot you a private message and we can exchange contacts and chat a bit to see if we can help each other in any way.

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    4y

    @Jared Joseph

    We think the Midwest is a GREAT place for OOS investors to consider!

    YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...

    [email protected]248-209-6824
    Logical Property Management4.9469 Reviews
    WebsiteView Page
    0Reply
  • Jared Joseph
    OP
    Realtor · NJ · Member since 2021 · 19 posts · 8 votes
    4y

    Thanks Drew. I plan on doing some out of state investing in the future so I will definitely check it out!

    0Reply
  • Clare Yuritch
    Member since 2020 · 13 posts · 7 votes
    4y

    Hey! I'm a relative newbie myself (3 doors), but live in the South Jersey area and have seen some properties that I thought would be great for house hacking in the area. We are doing BRRR with some heavy renno's, so some don't really meet the same criteria. Feel free to message me and I can send you a few that looked interesting!

    0Reply
  • Jared Joseph
    OP
    Realtor · NJ · Member since 2021 · 19 posts · 8 votes
    4y
    Quote from @Clare Yuritch:

    Hey! I'm a relative newbie myself (3 doors), but live in the South Jersey area and have seen some properties that I thought would be great for house hacking in the area. We are doing BRRR with some heavy renno's, so some don't really meet the same criteria. Feel free to message me and I can send you a few that looked interesting!


     Hey Clare! I may have a property locked down already but please feel free to send what you have my way! I don’t mind checking it out. Where in south jersey are you primarily BRRRRing?

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free